The Week On-Chain 34, 2024
Bitcoin, as the leading digital asset, continues to see its dominance expand, now commanding a staggering 56% of the total market capitalization. Supporting this, Bitcoin Long-Term Holders remain steadfast in their conviction, with significant accumulation pressure below the surface.

Executive Summary
- Since the cycle low established in Nov 2022, Bitcoin Dominance has continued to climb, now commanding 56% of the total crypto market capitalization.
- Despite tumultuous and choppy price action, the conviction of Long-Term Holders remains steadfast and unfazed, with a clear preference to accumulate and HODL coins.
- Short-Term Holders have carried the brunt of the losses during the recent downturn, however, the degree of locked in losses suggests a possible overreaction towards the event.

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